Measuring the Value of Intangible Assets in the Local Gaming Industry - An Analysis

Aug 29, 2026

Uploaded by Levi

This study examines the accounting process for intangible assets within Malta’s local iGaming industry, focusing on how intangible assets are measured in practice and what obstacles restrict more precise valuation. Using fourteen semi-structured interviews with iGaming CFOs, advisors, and auditors, the research identifies common intangible asset types and compares cost-model outcomes with revaluation alternatives. Results highlight understatements of fair value, measurement difficulties for internally generated items, and limited support for major process changes, leading to recommendations for stronger qualitative disclosures.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages123

Reading Time5 h 10 min

AccessFree to download

Table of Contents

Abstract

d## Dedication

Acknowledgements

List of Figures

List of Tables

List of Abbreviations

Chapter 1 - Introduction

Background of the Study

IAS 38 Intangible Assets

Types of Intangible Assets

Internally Generated Intangible Assets

Externally Acquired Intangible Assets

Intangible Assets Acquired in Business Combinations

The Remote Gaming Industry in Malta

Measuring the Value of Intangible Assets in the Local Gaming Industry: An Analysis By Paul Zammit A dissertation submitted in partial fulfilment of the requirements for the award of the Master in Accountancy degree in the Department of Accountancy at the Faculty of Economics, Management and Accountancy at the University of Malta May 2022 22MACC080 Abstract Measuring the Value of Intangible Assets in the Local Gaming Industry: An Analysis Purpose: This study aims to take a deeper look into the accounting process for intangible assets (IAs) in the local gaming industry. Apart from analysing the current measurement approaches used in practice, this research also sheds light on the challenges and potential improvements related to this area. Design: The objectives of this research were achieved by conducting a total of 14 semi-structured interviews with professionals who are experienced in dealing with IAs in the iGaming industry. To triangulate different views and opinions, the interviews were held with a mix of gaming company CFOs, advisors and auditors. Findings: The findings show that most common IAs possessed by locally-based iGaming companies include gaming platforms, licences, brands, trademarks, internet domain names and customer relationships. When it comes to measuring these IAs, the cost model tends to understate the actual fair value of the intangible, especially in the case of internally generated IAs. Nevertheless , most interviewees still favour this approach since it provides an efficient and reliable measurement of their IAs. Using the revaluation model is less common, primarily due to the challenges faced when deriving the fair value estimation. The process of capitalising costs related to internally generated IAs and revising the useful life of IAs also impose difficulties related to measurement. Although the research participants acknowledged the shortcomings of the current IAS 38, the majority agreed that the current measurement process should remained unchanged. Conclusions: The findings suggest that in the remote gaming industry, the underlying value of the company’s IAs is their main profit driver. Therefore, improvement in the accounting process for IAs is needed to compensate for the limitations of the cost model and other measurement inconsistencies. The findings conclude that the best way forward would be to substantiate IA values presented on the company’s books with supplementary qualitative disclosures on both recognised and non-recognised IAs. Value: In light of the recent publications by EFRAG (2021) and the FRC (2019) , the findings ofthis study propose a potential solution for standard-setting advisory boards to consider. The analysis of different areas relating to IA measurement offers valuable recommendations for CFOs, advisors and auditors. Similarly, the challenges and potential improvements examined help raise awareness of IA accounting shortcomings amongst external stakeholders. Keywords: Intangible Assets, Financial Reporting, Measurement approaches, Intangible Asset Disclosures. Library reference: 22MACC080 Dedication To my family Acknowledgements I am incredibly grateful and appreciative towards all those who have supported me by contributing their knowledge , assistance and advice throughout the completion of this study. Furthermore , I would like to extend my deepest gratitude to my dissertation tutor, Dr. Justin Chircop B.Accty.(Hons) (Melit.), M.Sc.(Econ.) (Accty. & Fin.) (Aberd.), Ph. D. (Lancs.), P.G.C.A. P (Lancs.), M.C.S. E. , M.C.A. D. , F.C.C.A. , F. H. E.A. , C. P.A. for his constant guidance and support. I would also like to thank all the CFOs, advisors and auditors whom I had the pleasure to interview and learn from through the course of the research process. Without the sharing of their knowledge, expertise and experience, the research objectives would not have been achieved. Lastly, I would like to express my sincere appreciatio

FAQs

What is the purpose of this dissertation on intangible assets?

The study aims to examine how intangible assets are accounted for in the local gaming industry, review current measurement approaches, and identify challenges and potential improvements.

How did the research achieve its objectives?

It used fourteen semi-structured interviews with professionals experienced in intangible assets in the iGaming industry, including CFOs, advisors, and auditors.

What measurement approach do the findings say is most common, and what are its limitations?

The cost model is most common, and it tends to understate the actual fair value of intangible assets, especially internally generated intangibles. Revaluation is less used mainly due to fair value estimation challenges.

Aug 29, 2026

Uploaded by Levi